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Print Edition StoriesWednesday, December 30, 2009
Nuance buys SpinVox for $103M
By Mass High Tech staff
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Nuance Communications Inc. has announced its acquisition of British voice-to-text firm SpinVox Ltd. for about $102.5 million.
The buyout would enable Burlington-based Nuance (Nasdaq: NUAN), which is primarily known for its voice recognition software, to expand into the voice-to-text business. SpinVox has provided its technology for telecommunications companies worldwide.
Through Nuance and SpinVox-designed technology, voicemail messages can automatically be converted into short message service or e-mail messages.
Nuance officials noted in a press release that the $102.5 million acquisition consists of $66 million in cash and $36.5 million in Nuance common stock — about 2.3 million shares.
More about Nuance
The latest acquisition adds to a year of buyouts for Nuance, including October’s acquisition of eCopy Inc., a Nashua, N.H.-based systems provider for integrating paper documents into business software applications, for $54 million in stock; a July buyout of Jott Networks, a voice-to-text mobile applications firm; and a February acquisition of mobile advertising software maker Zi Corp. for $35 million in cash and stock.
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